EQT Co. to Post FY2024 Earnings of $1.07 Per Share, Capital One Financial Forecasts (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities research analysts at Capital One Financial boosted their FY2024 earnings per share (EPS) estimates for shares of EQT in a note issued to investors on Wednesday, July 24th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $1.07 per share for the year, up from their previous forecast of $0.99. The consensus estimate for EQT’s current full-year earnings is $1.36 per share.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.55% and a net margin of 12.45%. The company had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue was down 6.5% compared to the same quarter last year.

A number of other equities research analysts have also commented on EQT. Mizuho increased their price target on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. StockNews.com upgraded EQT to a “sell” rating in a research report on Friday. Scotiabank increased their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Jefferies Financial Group increased their price target on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Wolfe Research assumed coverage on EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $45.50.

EQT Trading Down 2.0 %

EQT stock opened at $34.39 on Friday. EQT has a 1-year low of $32.07 and a 1-year high of $45.23. The firm has a market cap of $15.19 billion, a P/E ratio of 24.92 and a beta of 1.12. The business’s 50 day moving average is $38.46 and its 200-day moving average is $37.32. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently modified their holdings of EQT. Raymond James Financial Services Advisors Inc. raised its stake in shares of EQT by 212.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock valued at $6,740,000 after purchasing an additional 118,482 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of EQT by 7.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 17,116 shares of the oil and gas producer’s stock valued at $662,000 after acquiring an additional 1,128 shares in the last quarter. Uncommon Cents Investing LLC grew its holdings in shares of EQT by 31.1% in the 4th quarter. Uncommon Cents Investing LLC now owns 7,630 shares of the oil and gas producer’s stock valued at $295,000 after acquiring an additional 1,810 shares in the last quarter. Brave Asset Management Inc. bought a new position in shares of EQT in the 4th quarter valued at about $286,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of EQT by 70.7% in the 4th quarter. State of Alaska Department of Revenue now owns 73,387 shares of the oil and gas producer’s stock valued at $2,836,000 after acquiring an additional 30,405 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Buying and Selling

In related news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other EQT news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, August 7th. EQT’s payout ratio is presently 45.65%.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.